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Italy’s windfall tax on energy companies needs to be rewritten – PM
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ROME (Reuters) – Italy needs to rewrite its windfall tax on energy companies that have benefited from surging oil and gas prices, Prime Minister Giorgia Meloni told parliament on Wednesday.
ROME (Reuters) – Italy needs to rewrite its windfall tax on energy companies that have benefited from surging oil and gas prices, Prime Minister Giorgia Meloni told parliament on Wednesday.
The previous government led by Mario Draghi expected to fund part of its measures to soften the impact of the energy crisis on firms and families through a 25% windfall tax on energy groups, but revenues have proved much lower than expected.
Meloni also said her government was ready to work on national measures to separate gas price from those of other energy sources, provided rules could be agreed at the European level.
(Reporting by Angelo Amante, editing by Gavin Jones)
A windfall tax is a one-time tax imposed on companies that have unexpectedly gained large profits, often due to external factors like market conditions.
Energy companies are businesses that produce or supply energy, including oil, gas, and renewable sources, playing a crucial role in the economy.
Corporate tax is a tax imposed on the income or profit of corporations, which varies by country and can significantly impact business operations.
Gas pricing refers to the cost of natural gas, which can fluctuate based on supply, demand, and regulatory factors affecting the energy market.
European economies refer to the economic systems of countries within Europe, characterized by diverse markets, currencies, and regulatory environments.
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